WELL Health Provides Update on Cybersecurity Unit and Shareholder Estate Planning by CEO

Linda Rider
  • Cybersecurity company reached document earnings and EBITDA given that getting obtained by Well Wellbeing.
  • Iain Paterson has been appointed to the position of WELL’s Main Facts Stability Officer, from his prior position as CEO of Cycura Information Security Providers.
  • Peter Giannoulis, Founder and CEO of Cycura’s wholly owned Resource 44 subsidiary will now lead combined functions and is expanding the firm’s capabilities as the need to have for info protection grows in the health care industry.
  • Founder and CEO, Hamed Shahbazi delivers facts on family members, tax and estate planning linked to Very well shares.

VANCOUVER, BC, July 8, 2022 /PRNewswire/ – Well Overall health Technologies Corp. (TSX: Effectively) (OTCQX: WHTCF) (the “Firm” or “Effectively“) — a practitioner centered electronic wellness organization that is positively impacting wellness results by leveraging know-how to empower health care practitioners and their clients globally, is pleased to deliver a organization update on its cybersecurity organization.

WELL’s wholly owned cybersecurity enterprises, Cycura and Resource 44, reached report profits in Q2-2022, an raise of 240% in contrast to the exact same period of time a year back.  This advancement has been pushed by an expanding consumer base and by an growth of expert services offered to its buyers. Both of those factors are driven by the elevated have to have and complexity of cybersecurity in facts-sensitive industries like health care.

“We at Perfectly imagine cybersecurity and client details security is a person of our top rated priorities” claimed Amir Javidan, Chief Working Officer of Well. “Well and its subsidiaries have designed major investments in this space, and we appear forward to supplying additional Canadian healthcare practitioners with the country’s most complete security solution for outpatient clinical clinics.”

Appointment of Chief Info Security Officer and New CEO of Cycura

Well also announces the appointment of Iain Paterson to the position of Main Information Protection Officer of Effectively. Iain Paterson was previously the CEO of Cycura which was obtained by Properly in August 2020. Prior to Cycura, Iain worked below the business office of the CISO at eHealth Ontario, which properties the healthcare information of 13M Ontario citizens and acts as the principal facts share for most of Ontario’s hospitals. Prior to that Iain was the Information and facts Protection Officer for Trillium Health and fitness Companions, 1 of the premier hospitals in Canada.

Mr. Paterson commented, “I am delighted to direct WELL’s considerable and complete info security initiatives. We choose cybersecurity security and patient details privacy quite severely across all our firms and the safety of information security is 1 of WELL’s prime priorities as a business as mirrored in the Company’s a short while ago launched ESG report.”

Peter Giannoulis, the Founder and CEO of Resource 44, which was acquired by Nicely in Dec 2020, has been appointed the new CEO of Cycura. Mr. Giannoulis launched Source 44 thirteen several years back and grew it into one particular of Canada’s notable companies of cybersecurity merchandise and solutions. Supply 44 has been a solid performer in WELL’s portfolio and has continued to grow.

Mr. Giannoulis commented, “I am fired up to grow my obligations and lead Cycura’s overall business enterprise things to do. We have an remarkable option to make a favourable effects on the health care sector at a delicate time where by we believe that there is a ton of individual data at danger in clinics throughout the state.”

Increasing Our Abilities as the Have to have for Knowledge Defense Grows

Canadian health care is turning into an progressively massive focus on for cyber assaults, with 48% of all protection breaches in Canada in 2021 directed at healthcare, a 37% increase from 2020. Well has noticed an growing selection of its consumers who are encountering cyber assaults. While compliant EMR systems normally do a decent work guarding affected person facts, other software package or components being utilised in a clinical environment may possibly not be secured to the exact same diploma.  In response, Effectively is increasing its Incident Response presenting and is actively functioning with health care clinics to put into practice organization-grade cybersecurity answers through SecureSolutionsNow, a new presenting that is helping health care suppliers throughout Canada and the United states in protecting individual wellbeing info. For additional info, please stop by securesolutionsnow.com.

Cycura is now also supplying consumers with equally ‘hacker’ and ‘defender’ capabilities, giving them the complete spectrum of cyber abilities for customers of all measurements. This providing can also be totally built-in with the rest of WELL’s practitioner enablement platforms.

Loved ones, Tax and Estate Preparing by Founder and CEO

Hamed Shahbazi, WELL’s Founder, Chairman and CEO these days introduced that he has indirectly transferred as a result of Impactreneur Funds Corp., a corporation managed by him, 6 million Effectively shares to a loved ones belief for household, tax, and estate scheduling uses. The transferred shares depict around 27.8% of the complete Effectively securities owned immediately or indirectly by Mr. Shahbazi. Mr. Shahbazi is neither a beneficiary nor trustee of the family members rely on. Also, as section of his in general tax and estate scheduling technique, Mr. Shahbazi exercised 1.7 million stock solutions that have been established to expire in the subsequent 12 months.

Hamed Shahbazi commented, “WELL’s small business is much better than it really is ever been. Irrespective of the latest macro-financial ailments our organization stays resilient. Upon considerably session with advisors, I have transferred a part of my Nicely shares to a relatives have faith in and exercised my expiring stock alternatives strictly for estate and tax preparing functions. I continue being a single of the major single shareholders of the Organization and proceed to be highly aligned for WELL’s ongoing benefit generation journey.”

Properly Health and fitness Systems CORP.

Per:     “Hamed Shahbazi”             
Hamed Shahbazi
Chief Government Officer, Chairman and Director

About Perfectly Well being Technologies Corp.

Effectively is a practitioner concentrated electronic health corporation whose overarching goal is to positively effect health and fitness outcomes to empower and assistance healthcare practitioners and their clients. Well has developed an modern practitioner enablement platform that includes detailed finish to stop apply management equipment inclusive of digital care and electronic individual engagement capabilities as very well as Electronic Medical Documents (EMR), Profits Cycle Administration (RCM) and facts security companies. Well works by using this system to electric power health care practitioners equally inside of and outdoors of WELL’s have omni-channel client products and services choices. As these, Nicely owns and operates Canada’s major network of outpatient healthcare clinics serving main and specialised healthcare products and services and is the service provider of a main multi-countrywide, multi-disciplinary telehealth featuring. Effectively is publicly traded on the Toronto Inventory Exchange under the image “Nicely” and trades on the OTCQX under the image “WHTCF“.  To learn much more about the Corporation, you should take a look at: www.perfectly.company.

Ahead-Seeking Info

This news launch may well consist of “Ahead-On the lookout Information and facts” in the that means of relevant Canadian securities legal guidelines, such as, without limitation: WELL’s founder, director, and CEO’s intentions. Forward-Looking Data is primarily based upon a selection of estimates and assumptions that, while thought of sensible by management, are inherently matter to considerable organization, financial and aggressive uncertainties, and contingencies. Forward-Searching Data generally can be determined by the use of ahead-seeking terms these types of as “may perhaps”, “need to”, “will”, “could”, “intend”, “estimate”, “plan”, “foresee”, “assume”, “imagine” or “continue”, or the unfavorable thereof or equivalent variations. Ahead-On the lookout Facts involves known and unknown challenges, uncertainties and other variables that might result in upcoming success, efficiency, or achievements to be materially different from the approximated long run success, efficiency or achievements expressed or implied by this sort of Forward Searching Information and facts and, which are not assures of long term overall performance. WELL’s statements expressed or implied by Forward On the lookout Information and facts are subject matter to a number of challenges, uncertainties, and disorders, quite a few of which are exterior of Effectively ‘s manage, and undue reliance should really not be placed on these kinds of statements. Forward-Searching is Information  capable in its entirety by inherent pitfalls and uncertainties, such as: immediate and oblique product adverse effects from the COVID-19 pandemic adverse market place conditions risks inherent in the principal healthcare sector in general regulatory and legislative modifications that potential benefits might differ from historical final results inability to receive any requisite upcoming financing on suited conditions any inability to notice the anticipated advantages and synergies of acquisitions that market place opposition might affect the enterprise, final results and monetary affliction of Properly and other risk components identified in documents filed by Properly less than its profile at www.sedar.com, such as its most current Once-a-year Information Variety.  Besides as required by securities regulation, Perfectly does not suppose any obligation to update or revise any forward-hunting facts, regardless of whether as a result of new data, events or or else.

Resource Perfectly Health Systems Corp.

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